Real estate sales in Manhattan generally pick up after Labor day, although in the past 3 years, the pick up was rather tepid. This year however, the pick up is certain, and aggressive.

“We are seeing a level of activity and bidding that we have not seen in many, many months,” says Leonard Steinberg, managing director of Prudential Douglas Elliman and publisher of LUXURYLETTER. “All brokers we are in touch with are experiencing the same pick-up, especially on the high end. This may be an indicator that the wealthy view the recessionary times ending, with an eye towards inflation and a positive outlook for 2011: The wealthy always tend to look forward many months into the future.”